scholarly journals Adaptive Agents May Be Smarter than You Think: Unbiasedness in Adaptive Expectations

2021 ◽  
Author(s):  
Antonio Palestrini ◽  
Mauro Gallegati ◽  
Domenico Delli Gatti ◽  
Bruce Greenwald
Keyword(s):  
Adaptive Agents ◽  
Adaptive Expectations

GLOBAL STABILITY OF INFLATION TARGET POLICIES WITH ADAPTIVE AGENTS

2001 ◽  
Vol 5 (02) ◽  
pp. 148-179 ◽  
Author(s):  
Gian-Italo Bischi ◽  
Ramon Marimon
Keyword(s):  
Adaptive Learning ◽  
Dynamic Equilibrium ◽  
Adaptive Agents ◽  
Inflation Target ◽  
Adaptive Expectations ◽  
Fiscal Constraints ◽  
Monetary Authorities ◽  
Stabilization Policies ◽  
Globally Stable ◽  
Learning Schemes

We study a dynamic equilibrium model in which agents have adaptive expectations and monetary authorities pursue an inflation target. We show how alternative monetary stabilization policies become more effective when fiscal constraints on deficits are implemented, although they are not binding at the equilibrium target. In particular, we show that the inflation target equilibrium can be locally, or even globally, stable for a large class of adaptive learning schemes. We also compare alternative stabilization policies in terms of their stability properties. Commonly postulated conditional Taylor-type rules tend to be dominated by other rules, such as an unconditional Friedman type.

scholarly journals Learning, Adaptive Expectations, and Technology Shocks

2008 ◽  
Author(s):  
Kevin X. D. Huang ◽  
Zheng Liu ◽  
Tao A. Zha
Keyword(s):  
Technology Shocks ◽  
Adaptive Expectations

A Game-Theoretic Model for Retail Electricity Market Using Adaptive Expectations Learning

2021 ◽  
Author(s):  
M. Reza Sheykhha ◽  
Majid Dehghani ◽  
Alireza Fereidunian ◽  
Amirhossein Nikoofard
Keyword(s):  
Electricity Market ◽  
Theoretic Model ◽  
Adaptive Expectations ◽  
Game Theoretic ◽  
Game Theoretic Model
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